Union Pacific Corporation
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $7.14B | $6.75B | $6.38B | $7.00B | $6.52B | $5.35B | $5.92B | $5.97B |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $2.47B | $2.40B | $2.32B | $2.25B | $2.21B | $2.21B | $2.22B | $2.19B |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | — | — | $107.0M | $99.0M | $88.0M | $73.0M | $93.0M | $96.0M |
| Net Cash from Operating Activities | $9.29B | $9.35B | $8.38B | $9.36B | $9.03B | $8.54B | $8.61B | $8.69B |
| Investing Activities | ||||||||
| Capital Expenditures | $3.79B | $3.45B | $3.61B | $3.62B | $2.94B | $2.93B | $3.45B | $3.44B |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-3.76B | $-3.33B | $-3.67B | $-3.47B | $-2.71B | $-2.68B | $-3.44B | $-3.41B |
| Financing Activities | ||||||||
| Dividends Paid | $3.24B | $3.21B | $3.17B | $3.16B | $2.80B | $2.63B | $2.60B | $2.30B |
| Stock Repurchases | $2.68B | $1.51B | $705.0M | $6.28B | $7.29B | $3.71B | $5.80B | $8.23B |
| Net Cash from Financing Activities | $-5.28B | $-6.07B | $-4.63B | $-5.89B | $-7.16B | $-4.90B | $-5.65B | $-5.22B |
| Net Change in Cash | $252.0M | $-46.0M | $87.0M | $4.0M | $-835.0M | $962.0M | $-472.0M | $53.0M |
| Free Cash Flow | $5.50B | $5.89B | $4.77B | $5.74B | $6.10B | $5.61B | $5.16B | $5.25B |